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ARROW FINANCIAL CORP AROW

Nasdaq · stock · National Commercial Banks · website · IPO 1980-09-18 · LEI

ARROW FINANCIAL CORP statistics & valuation

Market cap$678.5M
P / E15.4×
P / B1.6×
P / FCF18.7×
Return on equity10.2%
Net debt$4.3M
Enterprise value USD$682.8M
Graham number +0.9%$39.50

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($39.50); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
11.40% 11.70% 13.50% 12.40% 12.20% 13.40% 13.80% 7.90% 7.40% 10.20% 2016201720182019202020212022202320242025
Shares outstanding
14.3M 14.8M 15.4M 15.9M 16.4M 17.1M 17.1M 17.0M 16.7M 16.5M 2016201720182019202020212022202320242025
Net debt ($)
-$2.4M -$17.8M -$39.2M $30.0M $45.0M $45.0M $27.8M $6.5M $8.6M $4.3M 2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
1.00% 1.10% 1.20% 1.20% 1.10% 1.20% 1.20% 0.70% 0.70% 1.00% 2016201720182019202020212022202320242025
Free cash flow margin (%)
2016201720182019202020212022202320242025
Debt / equity (×)
0.24× 0.22× 0.17× 0.10× 0.13× 0.12× 0.08× 0.02× 0.02× 0.01× 2016201720182019202020212022202320242025
EPS ($)
$1.86 $1.98 $2.36 $2.36 $2.49 $2.92 $2.86 $1.77 $1.77 $2.65 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

ARROW FINANCIAL CORP trades at about 14.8× earnings — near its 10-year norm (10-year range 11.5×–16.9×, median 14.2×).

11.5× 16.9×

Shaded band = 10-year range (11.5×–16.9×); dot = today's 14.8×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Return on assets1.0%0.7%0.7%1.2%1.2%1.1%1.2%1.2%1.1%1.0%
Return on equity10.2%7.4%7.9%13.8%13.4%12.2%12.4%13.5%11.7%11.4%
Debt / equity0.01×0.02×0.02×0.08×0.12×0.13×0.10×0.17×0.22×0.24×

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.